BOSTON – The latest effort to revive the ailing SouthField project missed a key legislative deadline early this morning, but a top lawmaker and the Weymouth Town Council president say there’s still hope for the overhaul.

The Legislature wrapped up its formal session shortly after 1 a.m. without the House or the Senate taking a final vote on the sweeping changes to the project, though both chambers easily approved adding an emergency preamble to the bill so it would go into effect immediately upon the governor signing it.

Lawmakers, local officials and the project’s master developer, Starwood Land Ventures, had cited the end of the formal session as a make-or-break deadline for the plan.

But House Majority Leader Ronald Mariano, D-Quincy, said the bill cleared all the major hurdles and will likely pass in informal session, where any member can block passage of legislation.

“We did four-fifths of the process,” said Mariano, whose district includes five precincts in Weymouth. “I don’t see any problems. I see an awful lot of progress we made and we’re ready to put the final touches on it.”

Mariano said the bill could pass both chambers next week.

SouthField is the redevelopment of the former South Weymouth Naval Air Station. Plans include 2,855 homes and apartments and between 900,000 and 2 million square feet of commercial space.

The project has suffered multiple setbacks and delays as construction has ground nearly to a halt with Starwood and the project’s quasi-governmental overseer, South Shore Tri-Town Development Corp., pointing fingers at each other over the slowdown and failure to pull in lucrative commercial development.

The legislation, first proposed by Starwood, would slash power from Tri-Town and shift responsibility for public services to the three towns. Each town would also be able to collect property taxes on its section of the former base. The bill would also allow Starwood to move ahead with building more homes and apartments and put off commercial construction.

Weymouth Town Council President Patrick O’Connor, who is also legislative director for state Sen. Robert Hedlund, R-Weymouth, said he also expects the bill to pass despite missing the deadline.

“It’s just one of those things. In the timeframe we had, we just fell short of getting the last piece of the puzzle done,” O’Connor said early this morning. “All the important parts got done today.”